In an 80-page report, Jim Taylor and David Bird have reviewed the state of the West African gold sector. The piece includes features on the area, the main countries involved and the companies active in the space.
The gold industry in West Africa remains healthy. Gold output is robust, with slowly declining average grades partly offset by improved recoveries. Six new mines are currently coming on stream, there are a significant number of projects at the feasibility stage, and exploration expenditure increased in 2017. While geopolitical risks remain, that has always been the case and the investment framework is stable and the legal structure is sound.
This report takes a fresh look at current gold mining, development and exploration activity in West Africa. Our database has identified 38 mines operating in the region in 2017, with a further six under construction that were due to come on stream in late-2017 and in early-2018. We have also identified 24 greenfield exploration projects that have a reported resource of more than 1.0Moz and a further 23 projects at an earlier stage of exploration.
West Africa is one of the world’s great gold provinces and we have taken a look at the players in the region, both the producers and the explorers. Within our database of West African gold producers, we identified 21 listed companies. Of these, we regard seven as ‘globally-focused’ producers, with the balance largely ‘regionally-focused’, although some of these regional players do have assets elsewhere. Then, within our database of West African gold explorers, we have identified a further 22 junior companies that are currently active in the region.
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